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Hang Seng Indexes announces the launching of a new Metaverse Index for mainland China

Hang Seng Indexes Company Limited, a company that publishes the Hang Seng Family of Indices, has announced the launch of the Hang Seng China Metaverse Index on May 23.

The new metaverse index measures the performance of 30 mainland Chinese firms engaged in metaverse-related activities. Hang Seng Company Limited is a wholly-owned subsidiary of Hang Seng Bank which is a Hong Kong based finance and banking business company.

In addition to the metaverse index, the company has also announced the addition of the Oncology Index to its Megatrend Index Series. Both of the index are calculated and distributed in real-time at two-second intervals.

On the launch of two new indexes Daniel Wong, Director & Chief Index Officer stated, “New megatrends are having an increasingly substantial influence on our daily lives. The two new megatrend indexes are intended to assist investors in capitalising on possible opportunities created by these creative and disruptive developments in the mainland Chinese and Hong Kong stock markets.”

Launching of a new index for the Metaverse industry in China  

The decision to create the metaverse index comes in support of the metaverse’s rising appeal as an investing subject among Chinese investors. In China, the term metaverse has become a new buzzword, bringing with it a slew of new and intriguing commercial potential. Chinese technology firms have begun to test the market by building metaverse-related apps, trademarking metaverse-related keywords, and investing in the VR/AR space. 

There are 16,000 already metaverse-related trademark filings that have been submitted up to March 2022, and tech titans have been investing in the software, hardware, and critical infrastructure required for a metaverse to emerge.

A US$8 trillion metaverse industry in China

According to a recent Morgan Stanley report, prominent Chinese investors appear to be particularly interested in the metaverse sector that could be worth up to US$8 trillion in the future. For example, Tencent formed a partnership with Roblox in 2019 and has since amassed a sizable metaverse portfolio. Since 2016, Alibaba has made investments in augmented and virtual reality startups, while Baidu established the virtual world XiRang and ByteDance expanded its metaverse hardware.

Metaverse enthusiasm among Chinese people

The metaverse continues to capture Chinese consumers’ interest too. According to a survey, 78% of Chinese people are interested in participating in gaming environments, compared to 57% in the US and 47% in the UK. They are highly positive about the metaverse’s prospective advantages, which much outnumber those in Western nations.

Companies present in the Hang Seng China Metaverse Index

Tencent, Netease, and Apple suppliers Goertek and Sunny Optical Technology are among the firms included in the index, which comprises entertainment, technology, and electronic manufacturing companies. The newly launched index has tracked a loss of 27% in the value from December 31, 2018.

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